§ * MR. T. F. RICHARDS (Wolverhampton, W.)I beg to ask the Under-Secretary of State for the Colonies whether the mine owners in South Africa have paid any of the £30,000,000 promised by them; and, if not, what action is contemplated by the present Government to redeem this money.
§ * MR. CHURCHILLI am unable for the present to add anything to the Answer 1094 given to the hon. Member for the Bosworth Division of Leicester on 21st February,† but I would take this opportunity of reminding hon. Members that the arrangement was not entered into by the mine owners only. Some misunderstanding appears to have arisen from confusing the proposed payment of £30,000,000 by the Colony with the undertaking of certain financial houses to underwrite, on stated conditions, £10,000,000 of a loan to be raised by the Transvaal Government for the purpose of the contribution.
§ MR. BELLOC (Salford, S.)Has any of the £10,000,000 been paid?
§ * MR. CHURCHILLOne condition of the underwriting the £10,000,000 by the financial houses was that the condition of the market should be favourable to the raising of the loan. That condition unfortunately has not been realised, but I can assure the hon. Gentleman we shall not lose sight of the matter.